Estate Planning

Most people have a vague understanding of the importance of estate planning; however, there are also several myths and misconceptions surrounding the reason for having an estate plan in place. Specifically, people often have the wrong ideas about what happens after they are gone. To help make sure you do not fall victim to any of these mistaken ideas, the Indianapolis estate planning attorneys at Frank & Kraft discuss five things you might not know about what happens after your … [Read more...] about What Happens to My Estate after My Death?

When you create an estate plan, that plan should accomplish several inter-related goals. One of those goals should focus on tax avoidance. After all, no one wants to lose a significant portion of their estate to Uncle Sam. One common mistake you should avoid, however, is to rely too heavily on the marital deduction. An Indianapolis estate planning attorney at Frank & Kraft explains the marital deduction is often not enough to protect your estate from federal gift and estate taxes. Federal … [Read more...] about Why You Should Not Depend Entirely on the Marital Deduction

If you have an estate plan in place already, you are ahead of the curve in the United States. Surveys indicate that despite understanding how important estate planning is, over half of all Americans do not have a plan. While you deserve to pat yourself on the back for putting together your initial estate plan, do not make the mistake of thinking that you can forget about the issue of estate planning from here on out. On the contrary, your initial estate plan needs to be reviewed and revised … [Read more...] about 5 Reasons to Immediately Update Your Estate Plan

It can be extremely difficult for adult children to accept the fact that their parents are experiencing the mental and/or physical deterioration that accompanies the natural aging process. A role reversal often occurs when a parent’s aging makes them vulnerable. The parent becomes the child, and the child becomes the caregiver. If you feel this is starting to happen, it is imperative that you discuss estate planning with your parents. Toward that end, the Indianapolis elder law attorneys at … [Read more...] about How to Approach Estate Planning with Your Aging Parents

In the United States, the divorce rate has hovered around 50 percent for some time now. Consequently, blended families that result from second (or subsequent) marriages have all but become the norm in the U.S. While estate planning is important for anyone with a family, it takes on heightened importance if you are part of a blended family. The Indianapolis estate planning attorneys at Frank & Kraft explain how to protect your blended family using a QTIP trust. Estate Planning … [Read more...] about How to Protect Your Blended Family Using a QTIP Trust

If you have an estate plan in place it is always a good idea to check your plan from time to time to ensure that you are not missing important components or tools in your plan. Unfortunately, people frequently have incomplete estate plans. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft discuss what might be missing from your estate plan. The Need for Comprehensive Estate Planning If you have an estate plan in place, you are better off than about half of … [Read more...] about What Might Be Missing from My Estate Plan?

If you are like the average person, you recognize the need to have a comprehensive estate plan in place, but beyond that estate planning remains somewhat of a mystery.  Estate planning encompasses much more than just deciding how your estate will be distributed after you are gone. Likewise, an estate planning attorney can do much more for you than you probably realize. The Indianapolis estate planning attorneys at Frank & Kraft explain 10 things about estate planning that you might not … [Read more...] about Top 10 Estate Planning Tips

If you have an estate plan in place, you already recognize the numerous benefits an estate plan offers. Once your plan is in place, however, you may struggle with deciding how much (if any) of the plan details to share with beneficiaries and heirs of your estate. Ultimately, it is a very personal decision; however, the Indianapolis estate planning attorneys at Frank & Kraft discuss the pros and cons of sharing your estate plan with loved ones. Pros of Sharing Details of Your Estate … [Read more...] about The Pros and Cons of Sharing Your Estate Plan with Loved Ones

One common reason people give for not having an estate plan in place is that creating an estate plan is an intimidating prospect. It can also be easy to find yourself believing one of the many myths that exist about estate planning. To help you navigate the world of estate planning, the Indianapolis estate planning attorneys at Frank & Kraft answer five common estate planning questions. Do I really need an estate plan?  One of the biggest estate planning myths is the idea that you … [Read more...] about Answers to 5 Common Estate Planning Questions

Like most areas of the law, estate planning includes concepts and legal jargon with which the average person is unfamiliar. For example, the words “bequest” and “inheritance” are often used interchangeably when, in fact, they are not always synonymous. To help you understand both terms, the Indianapolis estate planning attorneys at Frank & Kraft explain the difference between an inheritance and a bequest. What Is an “Inheritance?” While it may sound like the answer to one of those … [Read more...] about Is an Inheritance and a Bequest the Same Thing?